Pakistani startup Airlift has managed to raise a whopping $85 million from venture capitalists and received appreciation from Prime Minister Imran Khan as well.
Airlift started as a commuter service and later transformed into a quick commerce service after restrictions on transport after the covid-19 outbreak last year.
Now, the tech start-up has managed to get $85 million in funding under the venture round.
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It is also the largest single private funding in the history of the country.
A venture round is a form of a funding round for capital financing in which venture capitalists invest in a business that has achieved set goals in developing a business and it has entered the second stage after passing the initial startup stage.
Prime Minister Imran Khan also welcomed the investment in the tech startup and delivered the message to the venture capitalists that Pakistan has huge potential.
Thank you Prime Minister @ImranKhanPTI for calling attention to #Airlift’s milestone that will pave the way for future investment in #Pakistani #startups. Onwards & upwards! #PakistanKaAirlift https://t.co/REmNL2FgmV
— AirliftTech (@airlift_tech) August 20, 2021
Welcoming the pat by the premier, Airlift Tech thanked Imran Khan for pointing out the milestone achieved by the company.
Further, Focal Person to Punjab Chief Minister for Digital Media Azhar Mashwani pointed out the pace in investments raised by Pakistani startups during the tenure of the PTI-led government.
Investment raised by 🇵🇰 startups from 2015 to 2020 = $170 million.
Investment raised by 🇵🇰 startups in 2021 = $193 million.
Best of luck to @airlift_tech & all others.
— Azhar Mashwani (@MashwaniAzhar) August 20, 2021